A Letter Of Intent To Purchase Commercial (Real Estate) is a crucial preliminary document used in Indonesian commercial property transactions to establish the initial framework for negotiations between parties. It is typically employed when a potential buyer has serious interest in a commercial property but needs to conduct due diligence and finalize negotiations before proceeding to a binding purchase agreement. The document is drafted in accordance with Indonesian property laws, including the Basic Agrarian Law and relevant investment regulations, particularly important when foreign investors are involved. While primarily non-binding, it serves to document key commercial terms, proposed timeline, and specific binding provisions such as confidentiality and exclusivity periods. This document helps parties align their expectations and provides a roadmap for the transaction while protecting both parties' interests during the negotiation phase.
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1. Date and Parties: Full legal names and addresses of both the potential purchaser and property owner
2. Property Description: Detailed description of the commercial property, including exact address, land certificate details, and building specifications
3. Purchase Price: Proposed purchase price and any initial price negotiation parameters
4. Payment Terms: Proposed structure of payment, including deposits, installments, and completion payment
5. Due Diligence Period: Proposed timeframe and scope for conducting due diligence investigations
6. Exclusivity Period: Period during which the seller agrees not to negotiate with other potential buyers
7. Confidentiality: Binding provisions regarding the confidential treatment of information exchanged
8. Proposed Timeline: Expected timeline for key milestones including due diligence, document preparation, and completion
9. Conditions: Key conditions that need to be satisfied before proceeding with the transaction
10. Non-Binding Nature: Clear statement that the LOI is non-binding except for specified provisions
11. Next Steps: Outline of the process for moving forward, including preparation of definitive agreements
12. Signature Block: Space for signatures of authorized representatives of both parties
1. Break Fee: Include when parties want to specify compensation if either party withdraws from negotiations after a certain point
2. Foreign Investment Provisions: Include when the purchaser is a foreign entity, addressing specific requirements under Indonesian investment laws
3. Broker/Agent Acknowledgment: Include when real estate brokers or agents are involved in the transaction
4. Source of Funds: Include when there's a need to address anti-money laundering compliance or funding certainty
5. Environmental Matters: Include when the property may have environmental concerns that need specific attention during due diligence
6. Existing Tenancies: Include when the property has existing tenants and their rights need to be addressed
7. Development Potential: Include when the purchase involves potential future development considerations
8. Governing Law and Dispute Resolution: Include when parties want to specify these details at the LOI stage rather than leaving for the final agreement
1. Property Details Schedule: Detailed technical description of the property, including floor plans, boundaries, and certificates
2. Due Diligence Requirements: List of required documents and information for due diligence process
3. Preliminary Timeline: Detailed breakdown of proposed timeline and key milestones
4. Commercial Terms Summary: Summary of key commercial terms including price, payment structure, and key conditions
Relevant legal definitions
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Real Estate
Banking & Financial Services
Retail
Hospitality
Manufacturing
Logistics & Warehousing
Healthcare
Education
Technology
Professional Services
Construction & Development
Industrial
Entertainment & Leisure
Agriculture
Energy
Relevant Teams
Legal
Real Estate
Finance
Operations
Business Development
Risk & Compliance
Property Management
Corporate Development
Investment
Facilities Management
Strategy
Commercial Operations
Asset Management
Corporate Real Estate
Executive Leadership
Relevant Roles
Chief Executive Officer
Chief Financial Officer
Real Estate Director
Head of Property
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Commercial Director
Investment Manager
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Asset Manager
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Finance Director
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